Sunday, April 14, 2024 7:42:15 AM - Markets open
VN-INDEX 1,276.60 +18.40/+1.46%
HNX-INDEX 241.34 +2.27/+0.95%
UPCOM-INDEX 91.21 +0.29/+0.32%
Many people buy gold on God of Wealth Day, gold prices down
Vietnam News - 2/19/2024 3:54:04 PM
 (0 ratings. You must sign in to rate.)
On February 19, the tenth day of the Lunar New Year, the God of Wealth Day, many people lined up to buy gold for good luck at gold shops in Hà Nội, as gold prices dropped on the domestic market.
Many gold shops on the streets of Hà Nội such as Trần Nhân Tông, Nguyễn Trãi, Trần Phú and Hà Trung are crowded.
On Trần Nhân Tông street, Hà Nội with many gold shops of popular brands such as Bảo Tín Minh Châu, SJC and Phú Quý, most gold shops open from 6 am to welcome customers, instead of at 8am as usual.
To avoid having to wait long, Nguyễn Thanh Vân in Hoàng Mai District had an online order of a gold product and went to the store to receive this product one day before the God of Wealth Day. 
“Every year I go on the same day. Last year, it was very crowded so this year I have to go early," Vân said.
According to the gold shops, on the day of the God of Wealth, plain round rings are the choice of most people, because they are easy to trade and have low depreciation.
Việt Hà from Hoàng Mai District, Hà Nội, said: "Every year on this day, I buy a gold product for luck. I often only bought plain rings. In recent years, when the market has more new designs, I switched to buying artistic gold products which have meaning and high aesthetic value."
Nguyễn Hữu Thuyết, from the Gold Exchange Department, Bảo Tín Minh Châu Company, said: "This year many customers came to buy gold earlier than last year. Every year, customers come to buy gold products when it's almost God of Wealth Day, but this year they have bought gold from the end of last lunar year until opening at the beginning of this lunar new year."
"Besides direct transactions at the shops, the company also sells the products through online channels. Customers can order in advance, then receive the gold on God of Wealth Day."
Domestic gold price decreased on February 19, God of Wealth Day, compared to the price at the close of February 18.
At 12 pm, the Saigon Jewelry Company (SJC) bought SJC gold at VNĐ74.8 million (US$3,060) per tael (37.5 grams), down VNĐ1.3 million per tael, and sold at VNĐ77.8 million per tael, down VNĐ800,000.
Bảo Tín Minh Châu listed its buying price of SJC gold at VNĐ75.1 million per tael and the selling price at VNĐ77.6 million per tael, down between VNĐ500,000-VNĐ1 million compared to the close of February 18.
Vietnamese prefer buying gold to mark God of Wealth Day, the tenth day of the Lunar New Year, as legend has it that the God of Wealth returns to heaven on the tenth day of the first lunar month each year. Vietnamese people consider this God of Wealth Day, so they have a tradition of buying some gold for good luck and prosperity throughout the year. — VNS
Read original article here
Newer News
12/04 Military Insurance targets top four spot in non-life insurance market for 2024
12/04 PM Chính requires strengthened gold market management
10/04 SJC gold price turns down, gold ring conquers new mark
05/04 Central bank reassures customer rights following $13.5m deposit loss
05/04 Việt Nam participates in ASEAN meetings, boosts financial and monetary cooperation
05/04 HDB: HDBank to pay 25% dividend in cash, stocks, aim for high growth in 2024
03/04 15 VN banks listed in Brand Finance Banking 500 2024 ranking
03/04 Bank credit increases again in March
03/04 Bank shareholders to receive high dividends, stock bonuses
28/03 Deposit interest rates to remain low until mid-2024: analysts
Older News
16/02 Changes to Law on Credit Institutions reduce ownership limits in banks
16/02 Central bank pushes others to boost lending from start of New Year
16/02 Asia - biggest source of overseas remittances to HCM City in 2023
27/12 Bank bad debts forecast to remain under great pressure in 2024
27/12 Domestic gold prices hit record-breaking VNĐ80 million per tael
23/12 Bank credit growth improves in HCM City
22/12 Bank credit growth improves in HCM City
22/12 Bank credit growth improves in HCM City
20/12 Lending rate forecast to be cut by 1-1.5pp in 2024
19/12 HDB: HDBank among 10 large-cap listed companies with best annual report for 5th straight year
Newsletter Signup
Top Stories
PM Chính requires strengthened gold market management
Bank shareholders to receive high dividends, stock bonuses
Shares sustain gains on strong investor confidence
Banks given advantages to CASA ratio
Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,276.60 +18.40/+1.46%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.